Filing your Free Application for Federal Student Aid (FAFSA) is a bit like going to the dentist. You might not want to do it, but you know you have to. No 2016-17 FAFSA, no 2016-17 financial aid! Timing is also really important, because the earlier you complete the FAFSA, the better chance you have of receiving the maximum amount of aid for which you may be eligible. Ideally, you or your parents should file your taxes as early as possible; however, 2015 income tax returns are not needed to file the 2016-17 FAFSA. You (or your parents if you are a dependent student as per the FAFSA definition) may estimate your income and tax figures based on prior year information. Once 2015 income tax returns have been filed, you (your parents) must update your financial information. The easiest and most accurate way to update information is to use the IRS Data Retrieval System which is expected to be available in early February.
The 2016-17 FAFSA is now available at www.fafsa.gov. It determines your eligibility for grants, scholarships, work-study programs, and loans, and is the essential first step in receiving financial aid from federal, state, institutional, and private sources. More information on financial aid including a guide to completing the 2016-2017 FAFSA is available at www.nova.edu/financialaid.